ALFA Finder| Revenue growth | Q2 revenue ₹2,364 Cr; YoY not stated; FY27 growth guided 5-6%. |
|---|---|
| Margins | Guidance maintained: EBITDA 8-9% consolidated, PAT 6-7% standalone. |
| Order book | ~₹21,000 Cr, ~2x revenue; down from ~₹25,000 Cr at March 2026. |
| Demand visibility | ₹25,000 Cr quoted; bid openings pending; order visibility weak. |
| Management confidence | Defensive-optimistic: 'challenging' headwinds, repeated 'hopeful' on orders. |
Growth
No YoY growth disclosed; execution-led; FY27 turnover guided 5–6% growth. Q2 EBITDA ~10% of operating revenue (derived).
Outlook
FY27 standalone turnover ₹9,000–9,500 Cr; order inflow target ₹9,000–10,000 Cr; FY28 growth only 'hoped' marginal, unquantified.
Risks
Order inflow ~₹200 Cr by 30 Sept vs ₹9,000–10,000 Cr FY27 target; JV losses persist, break-even ~2 years away.
Last quarter's promises, checked
Delivered
- Consolidated EBITDA ~9% → Q2 ~9.6% derived (= BEAT)
Partly delivered
- Order book ~2X rev (~₹25,000 Cr) → ~₹21,000 Cr (= PARTIAL)
- SPV/JV funding ₹700–800 Cr → ₹800–900 Cr due, ~₹100 Cr added (= PARTIAL)
- CERL break-even ~2 yrs → still ~2 yrs, losses persist (= PARTIAL)
Missed
- FY26 revenue ₹10,000–11,000 Cr → ₹9,502 Cr (= MISS)
- Consolidated PAT 6.1–6.3% → Q2 ~4.2% derived (= MISS)
- 107 bids ~₹48,000 Cr → ~₹200 Cr inflow (= MISS)
Earnings Call Transcript filed with BSE, NSE: IRCON. Summary written with AI assistance from the document.
Ircon International Ltd: key numbers
- Share price
- ₹108.17
- Market cap
- ₹10,174 Cr
- Revenue (annual)
- ₹9,071 Cr
- Net profit (annual)
- ₹595.5 Cr
- P/E (TTM)
- 20.9×Sector 33.4×
- Promoter holding
- 65.17%+0.00% QoQ
- FII holding
- 4.62%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Ircon International Ltd
All →Ircon International Results Update
IRCON reported Q2 FY27 consolidated PAT of Rs.100.3 crore, down 26.5% YoY, with revenue up 14.9%. Order book stood at Rs.21,296 crore as on 30.09.2026.
- Order book
- ₹21,296 Cr
Ircon International Investor Presentation: Key Takeaways
Q2FY27 consolidated revenue Rs2,272cr (+14.9% YoY), EBITDA Rs320cr (+7.6%), PAT Rs100cr (-26.5%). Standalone PAT down 34%. Order book Rs21,296cr.
Ircon International Merger & Restructuring
IRCON began an asset monetisation plan to sell 100% stakes in four completed road assets. No buyer or consideration is disclosed yet.
Ircon International Q2 FY27 Results: Net Profit ₹100.3 Cr, Down 26.5% YoY
Ircon International Ltd reported revenue from operations of ₹2,272 Cr (+14.9% YoY) and net profit of ₹100.3 Cr (-26.5% YoY) for Q2 FY27.
- Key figure
- Net profit ₹100.3 Cr · -26.5% YoY
Ircon International Board Meeting Date
IRCON will hold a board meeting on November 4, 2026 to consider unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. The trading window stays closed until November 6.
Ircon International Legal & Regulatory
IRCON faces a GST notice over ₹72.41 Crore of allegedly inadmissible input tax credit. The High Court directed the GST authority not to pass an order until the next hearing.
- Value
- ₹72.41 Cr